mealy macro on: macro model choice for policy makers

a story "It is sometime in 2005/6. Consumption is very strong, and savings are low, and asset prices are high. You have good reason to think asset prices may be following a bubble. Your DSGE model has a consumption function based on an Euler equation, in which asset prices do not appear. It says a bursting house price bubble will have minimal effect. You ask your DSGE modellers if they are sure about this, and they admit they are not, and promise to come back in three years time with a model incorporating collateral effects. Your SEM modeller has a quick look at the data, and says there does seem to be some link between house prices and consumption, and promises to adjust the model equation and redo the forecast within a week. Now choose as a policy maker which type of model you would rather rely on."